Energy regulator targets new protections for homes and businesses before winter

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 67%

Energy Energy Headlines News

Energy Energy Latest News,Energy Energy Headlines

Ofgem's plans include minimum capital requirements for suppliers and that credit balances are ringfenced to better shield customers from any future supplier failures.

Ofgem said that was an element of its plans to ensure that"consumers benefit from a stable energy market".It was also to press ahead with measures to ensure households' credit balances are better protected.For non-household customers, including businesses, Ofgem said it was to examine broker practices amid suggestions that huge commissions are being loaded onto bills.

Energy bills for businesses have proved slower to come down after the spikes witnessed since last summer on the back of unprecedented wholesale gas costs.Households are back on the energy price cap following the end of the government's energy price guarantee which limited the amount that customers could be charged per unit.

The industry regulator said it was clear that suppliers must do better in their support of consumers - with lines of communication being broadened and open for longer including at weekends. It was also seeking more effective support for customers struggling with bills, including early intervention to"identify and offer support such as temporary repayment holidays when consumers are unable to pay".

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 35. in ENERGY

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK Energy Regulator Hits SSE Generation With Hefty Fine | OilPrice.comOfgem has imposed a hefty £9.78m penalty on SSE Generation for securing excessive payments from the UK’s electricity system operator, which was in breach of its licence and raised costs for customers.
Source: OilandEnergy - 🏆 34. / 68 Read more »

New energy grant for 'greener and warmer' Bristol homesA couple are among the first to benefit from a grant which could see a reduction in energy costs.
Source: BBCScienceNews - 🏆 87. / 53 Read more »

Sunak to ease energy efficiency requirements in rented homes to not 'overburden landlords'Rishi Sunak is planning to delay energy efficiency targets and overhaul what is being required of landlords to not 'overburden' them with the costs of making a green switch, a Whitehall source told Sky News.
Source: SkyNews - 🏆 35. / 67 Read more »

TC Energy Agrees To Sell 40% Of U.S. Natural Gas Pipelines For $3.9 Billion | OilPrice.comTC Energy has agreed to sell 40% of the Columbia Gas and Columbia Gulf pipelines in the U.S. for US$3.9 billion (C$5.2 billion) in cash, the Canada-based pipeline giant said on Monday.
Source: OilandEnergy - 🏆 34. / 68 Read more »

UK Energy Minister: We Will Produce 100% Of North Sea Oil And Gas | OilPrice.comUK Energy Minister Grant Shapps says the British government intends to extract one-hundred percent of its North Sea oil and gas reserves and still achieve net-zero carbon emissions by 2050
Source: OilandEnergy - 🏆 34. / 68 Read more »

World's Largest Battery Energy Storage Scheme Gets Planning Permission | OilPrice.comLocal authorities in the Greater Manchester area in the UK have issued planning permission to UK energy infrastructure development company Carlton Power to build what would be the world’s largest battery energy storage scheme, which will cost $963 million
Source: OilandEnergy - 🏆 34. / 68 Read more »